Establishment Labs Holdings Inc. (NASDAQ: ESTA) entered into a $300 million senior secured term loan facility with funds managed by Oaktree Capital Management, the medical technology company announced.

The facility refinances the company's existing debt and provides access to additional capital for operations and strategic growth initiatives. The loan has a five-year maturity extending until 2031.

The credit facility consists of two tranches: $265 million in Tranche E to refinance existing debt and $35 million in Tranche F available for future growth initiatives. The loan carries a fixed interest rate with potential step-down based on leverage targets and includes no amortization with principal due at maturity.

"This strengthens our capital structure by extending our maturity and enhancing our financial flexibility," said Sandra Harris, Chief Financial Officer of Establishment Labs. "The initial tranche fully refinances our existing debt until 2031 and the additional capacity provides flexibility to support future strategic initiatives."

The facility will be secured by a first-priority lien on substantially all assets of the company, consistent with terms of the existing debt. The definitive documentation aligns with the company's prior credit agreement with updates reflecting current market terms.

Aman Kumar, Co-Portfolio Manager for Oaktree's Life Sciences Lending platform, said the investment manager has witnessed the company's commitment to growth over the past four years, supported by innovation in breast aesthetics and reconstruction and market expansion of Motiva implants in the United States.

Establishment Labs develops medical devices for women's health, focusing on breast aesthetics and reconstruction. The company operates in over 100 countries and has delivered five million Motiva devices since 2010.

The company will file a Form 8-K outlining the full terms of the credit facility with the Securities and Exchange Commission, according to the press release.